Can I retire at age 71 with 2,060,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$170,113$168,598$167,119$165,676$164,267$158,818
2 years$84,214$82,646$81,126$79,652$78,223$72,786
3 years$55,585$54,010$52,494$51,034$49,628$44,374
4 years$41,273$39,703$38,202$36,767$35,395$30,364
5 years$32,689$31,128$29,646$28,241$26,907$22,112
6 years$26,967$25,418$23,959$22,584$21,290$16,736
7 years$22,882$21,346$19,910$18,568$17,315$13,000
8 years$19,820$18,298$16,885$15,576$14,364$10,286
9 years$17,439$15,931$14,543$13,267$12,097$8,250
10 years$15,536$14,043$12,679$11,437$10,307$6,686
11 years$13,980$12,501$11,162$9,953$8,864$5,462
12 years$12,684$11,221$9,906$8,730$7,682$4,490
13 years$11,588$10,140$8,851$7,708$6,699$3,710
14 years$10,649$9,217$7,952$6,842$5,872$3,078
15 years$9,837$8,420$7,180$6,102$5,170$2,562
16 years$9,127$7,725$6,510$5,463$4,569$2,138
17 years$8,501$7,115$5,924$4,909$4,052$1,789
18 years$7,945$6,574$5,407$4,424$3,602$1,499
19 years$7,448$6,093$4,950$3,997$3,211$1,258
20 years$7,001$5,662$4,543$3,620$2,868$1,057
21 years$6,598$5,274$4,179$3,286$2,567$890
22 years$6,231$4,923$3,851$2,987$2,301$749
23 years$5,897$4,604$3,556$2,721$2,065$631
24 years$5,592$4,314$3,289$2,481$1,856$532
25 years$5,311$4,048$3,046$2,266$1,670$449
26 years$5,052$3,805$2,825$2,072$1,505$379
27 years$4,813$3,581$2,623$1,897$1,356$320
28 years$4,591$3,374$2,439$1,738$1,224$270
29 years$4,385$3,183$2,269$1,594$1,105$228
30 years$4,193$3,006$2,114$1,462$999$193
31 years$4,014$2,842$1,971$1,343$903$163
32 years$3,846$2,689$1,839$1,234$817$138
33 years$3,689$2,546$1,717$1,135$739$117
34 years$3,542$2,413$1,604$1,044$669$99
35 years$3,403$2,289$1,500$961$606$83
36 years$3,272$2,173$1,403$885$549$70
37 years$3,148$2,064$1,313$816$498$60
38 years$3,032$1,961$1,230$752$451$50
39 years$2,921$1,865$1,152$693$409$43
40 years$2,816$1,774$1,080$640$371$36
41 years$2,717$1,689$1,013$590$337$30
42 years$2,623$1,608$950$545$306$26
43 years$2,533$1,533$891$503$277$22
44 years$2,448$1,461$837$464$252$18
45 years$2,366$1,393$786$429$228$16
46 years$2,289$1,329$738$396$207$13
47 years$2,215$1,268$693$366$188$11
48 years$2,144$1,211$651$338$171$9
49 years$2,076$1,156$612$312$155$8
50 years$2,011$1,104$576$289$141$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,060,000, adding $3,151 every year, while hoping to spend $20,165 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 50/44/6 Blend
70$2,060,000$2,060,000$2,060,000$2,060,000
71$2,273,370$2,164,190$2,132,260$2,383,510
72$2,483,799$2,248,780$2,182,236$2,543,440
73$2,715,015$2,336,839$2,233,209$2,714,696
74$2,969,118$2,428,516$2,285,193$2,900,297
75$3,248,421$2,523,966$2,338,200$3,101,589
76$3,555,470$2,623,351$2,392,240$3,320,052
77$3,893,074$2,726,841$2,447,326$3,557,311
78$4,264,324$2,834,612$2,503,468$3,815,153
79$4,672,627$2,946,851$2,560,676$4,095,541
80$5,121,738$3,063,749$2,618,962$4,400,634
81$5,615,792$3,185,509$2,678,334$4,732,803
82$6,159,345$3,312,342$2,738,801$5,094,659
83$6,757,420$3,444,468$2,800,372$5,489,069
84$7,415,548$3,582,118$2,863,055$5,919,189
85$8,139,824$3,725,532$2,926,858$6,388,489
86$8,936,965$3,874,962$2,991,786$6,900,786
87$9,814,371$4,030,671$3,057,847$7,460,279
88$10,780,196$4,192,933$3,125,044$8,071,590
89$11,843,425$4,362,036$3,193,382$8,739,801
90$13,013,959$4,538,280$3,262,865$9,470,506
91$14,302,705$4,721,979$3,333,494$10,269,861
92$15,721,686$4,913,460$3,405,270$11,144,642
93$17,284,146$5,113,068$3,478,195$12,102,304
94$19,004,681$5,321,160$3,552,266$13,151,055
95$20,899,373$5,538,112$3,627,482$14,299,930
96$22,985,944$5,764,314$3,703,838$15,558,875
97$25,283,923$6,000,178$3,781,329$16,938,838
98$27,814,828$6,246,132$3,859,949$18,451,874
99$30,602,372$6,502,624$3,939,689$20,111,255
100$33,672,685$6,770,123$4,020,538$21,931,594